Fogo De Chao (NASDAQ:FOGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Fogo De Chao, Inc. owns and operates Brazilian steakhouses. It offers beef, lamb, chicken, pork and seafood items as well as liquor, beer and wine. The company operates primarily in the United States, Puerto Rico and Brazil. Fogo De Chao, Inc. is headquartered in Dallas, Texas. “
Other equities analysts also recently issued research reports about the company. Jefferies Group reiterated a “buy” rating and set a $14.00 price target on shares of Fogo De Chao in a research note on Friday, December 22nd. Canaccord Genuity cut their price target on Fogo De Chao from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. TheStreet upgraded Fogo De Chao from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. ValuEngine downgraded Fogo De Chao from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Credit Suisse Group cut their price target on Fogo De Chao from $12.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.17.
Fogo De Chao (NASDAQ FOGO) opened at $15.55 on Monday. The stock has a market capitalization of $439.33 and a PE ratio of 21.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.41 and a current ratio of 1.54. Fogo De Chao has a 12 month low of $10.30 and a 12 month high of $17.05.
Several hedge funds and other institutional investors have recently made changes to their positions in FOGO. CAS Investment Partners LLC purchased a new position in shares of Fogo De Chao in the 4th quarter worth approximately $13,408,000. Signia Capital Management LLC purchased a new position in shares of Fogo De Chao in the 4th quarter worth approximately $2,853,000. 683 Capital Management LLC boosted its stake in shares of Fogo De Chao by 26.7% in the 3rd quarter. 683 Capital Management LLC now owns 950,000 shares of the restaurant operator’s stock worth $11,780,000 after buying an additional 200,000 shares during the last quarter. Archon Capital Management LLC boosted its stake in shares of Fogo De Chao by 44.5% in the 3rd quarter. Archon Capital Management LLC now owns 544,267 shares of the restaurant operator’s stock worth $6,749,000 after buying an additional 167,607 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Fogo De Chao by 69.3% in the 2nd quarter. Vanguard Group Inc. now owns 371,831 shares of the restaurant operator’s stock worth $5,168,000 after buying an additional 152,169 shares during the last quarter. Hedge funds and other institutional investors own 86.93% of the company’s stock.
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Fogo De Chao Company Profile
Fogo de Chao, Inc is a United States-based holding company. The Company, through its subsidiaries, operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc (Brasa Purchaser), which owns 100% of Brasa (Holdings) Inc (Brasa Holdings).
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